Oyo speeds up IPO plans as Ritesh Agarwal’s debt repayment date looms

India’s Oyo Hotels is speeding up plans for an initial public offering, as an important year-end debt repayment deadline approaches.

Creditors, including Mizuho Financial Group Inc., insist that founder Ritesh Agarwal pay off the dues for $383 million he borrowed — part of a multibillion-dollar loan package — if the startup doesn’t have an IPO by October, people familiar with the matter said.